There’s a lot of people that have an incredible love for sneakers and shoes to the point that they can have more than 200 pairs of those. This lead to insurance for sneakers. Yeah! And many of them are rare, or collectible sneakers. For example, the price for a pair of Air Jordan 11 Blackout Edition can go up to $22k! For many people, that’s a crazy amount for a pair of shoes. But like many stuff in the markets, if it has a high demand and a low stock quantity, the price can go up easily.Like many others collectibles, the high-end sneakers are getting an insurance. That’s right! Insurance for sneakers made easy, read here!
And the demand for sneakers is increasing a lot and the way to get a pair too, we have plenty of websites where you can choose from a huge variety. For example, Uafactory, with more than 400 different type of shoes.
I bet you can remember when you were a kid and have two pairs of shoes. One was your “nice” shoes, the one you would use for your aunt’s birthday, and the other one, those you would use for every day. But this is not the case, as huge as can be in the collector world’s there’s a lot of room for sneaker collectors. And every need leads to a solution.
Collectible sneaker insurance
The other day I read an interesting story about a guy from St. Paul who started a startup after moving to a house he bought with his wife. He found that the previous owner of the house left behind 10 pairs of high-end sneakers.
After that, he tried to secure his collection, contacted a lot of people and no one was paying attention to him. That’s when the “Aha!” moment comes to play. After he failed to try to get an insurance policy for his +200 pairs of sneakers he thought about how people like him can be struggling too. A collection is valuable no matter what.
” Insurance for Sneakers”
That’s how, using a valuation and appraisal model, started a collectible sneaker insurance for high-end shoes. And gained as a partner the Minnesota Twins and the startup accelerator TechStars. A lot of startups applied for the program, but only 10 were selected across the country.
Wrapping everything up
As we know, modern sneakers have their beginnings in sports. In most cases, from basketball, like the Iconic Air Jordan. It was just a matter of time for this to happen. Many other collectibles have solid insurances policies. I bet if you have a $100k Jordan you would want to insure that.